Receive a Letter Of Credit ONLINE !
From Our Network Of
50+ World Banks Without Collateral
We Issue All Types Of Letters Of Credit Worldwide Through SWIFT MT700 & MT760
Our Easy To Follow Process:
1. Application - You send us a completed application with any other related documents to your deal at TFN Personal Account.
(How to get login and password? - 6 min video)
2. Draft - We send you a FREE draft (in 5 min.) from one of our 50+ world banks. You confirm it with your client and sign off on it.
3. Due Diligence - You send us requested documents relating to your company. TFN insures the deal complies with all international regulations, quotation and service agreement with TFN provided at this stage.
4. Issuance - The SWIFT Message is issued from the bank to the beneficiary.
Lower Your Risk
If you don't have the necessary collateral requirements or a good relationship with a bank to receive a letter of credit...we do.
There is no need to leave a down payment or deposit with your seller/exporter since your Letter of Credit (LC) will be opened for the entire amount of the contract.
You are protected against the buyer not being able to pay or going bankrupt. The issuing bank takes on the credit risk when they issue the LC.
Increase Cash Flow
You may open up all types of new opportunities to do business with foreign companies by strengthening your financial position with your seller/importers.
You will have an easier time receiving bank financing as you can often use the Letter of Credit as collateral.
Use the cash you would have sent for payment as working capital until the goods are being delivered.
Control The Deal
You can protect yourself even further by adding safeguards into the Letter of Credit (LC) including quality control, inspection of goods, and set delivery and production times.
As long as you stick to the terms and conditions of the Letter of Credit, payment is guaranteed.
Lower your collection time on receivables since the LC accelerates payment of goods sold.
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No Purchase/Lease Scams
We here at Trade Finance Network never deal in the sale or lease of financial instruments as we consider them all a scam.
No provider with a line of credit in a bank will give someone else full control of their account by selling the right to a financial instrument for 50% of the value.
The same goes for a leased instrument. No bank will accept a financial instrument that has the words lease in it as a leased instrument has absolutely no value.
If you want to receive a true, genuine financial instrument without collateral, then look no further - Trade Finance Network only issues real instruments from real banks and institutions.
All Types Of Letters Of Credit (LC)
Documentary Letter Of Credit (DLC): a promise of payment provided by a buyer/importer to a seller/exporter that is guaranteed by a particular bank. Once a DLC document is presented by the seller/exporter to the issuing bank, the bank is obliged to remit full payment to the seller.
At Sight Letter Of Credit (Sight LC): is payable once it is presented to the issuing bank along with the all of the necessary documents.
Standby Letter Of Credit (SBLC): a guarantee of payment issued by an issuing bank on behalf of a client that is used as a "last resort payment" should the client fail to fulfill a contractual commitment with a third party.
Letters Of Credit Are Irrevocable
Being the most commonly used type of letter of credit in global trade, Irrevocable Letters of Credit cannot be altered or canceled by the buyer.
As long as the seller complies with the terms and conditions of the letter of credit, the buyer's issuing bank must make payment to the seller.
Any alterations to the Irrevocable Letter of Credit must be approved by both parties involved in the transaction.
Unless stated as revocable, a Letter of Credit automatically is considered irrevocable.
Abdullah - U.A.E.